A shuttered Rite Aid building at the intersection of Olympic Boulevard and Crenshaw Boulevard in Los Angeles’ Koreatown will be redeveloped into a new Koreatown affordable housing complex, following the city’s recent approval of a 147-unit project for the site.
The City of Los Angeles has approved redevelopment plans submitted by Santiago Holdings II, a Beverly Hills–based firm, for 959 S. Crenshaw Blvd. The project will rise six stories and include 147 residential units consisting of studios, one-bedroom, and two-bedroom apartments.
The design, led by Category Company, features approximately 2,250 square feet of ground-floor commercial space and an interior garage with 51 parking spaces.
Only the front portion of the former Rite Aid property—facing Crenshaw Boulevard—is included in the redevelopment. The rear parking lot is zoned R1 for single-family housing, making it ineligible for fast-track processing and therefore excluded from the project.
The project is being processed under Executive Directive 1 (ED1), Los Angeles’ accelerated permitting program aimed at rapidly increasing the city’s housing supply. ED1 significantly shortens entitlement timelines for qualifying residential developments.
Under ED1 requirements, all but one of the building’s 147 units—the manager’s unit—will be reserved for low- and moderate-income tenants for 99 years, making 146 units income-restricted for the long term.
The Crenshaw Boulevard corridor has experienced a surge in redevelopment, as aging commercial buildings are being demolished and replaced with new housing for low- and middle-income households. The project at Olympic and Crenshaw is the latest addition to these efforts, expanding Koreatown affordable housing options in a rapidly transitioning area.
BY Eunyoung Lee (lee.eunyoung6@koreadaily.com)
